Localize Layoffs
August 2024
Localize announced a layoff affecting 0 employees in August 2024. The company operates in the Real Estate sector.
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Aug 19, 2024
About
Israeli proptech startup Localize, a sister company of Madlan, is shutting down its U.S. operations due to a severe crisis in the American real estate market. The closure, announced on August 19, 2024, results in layoffs for its entire U.S. team, though the exact number of affected employees is not specified. The company, which had raised about $70 million, cited a significant two-year decline in real estate transaction volumes, driven by high interest rates and regulatory changes, as the primary reason for the painful decision. While Localize's activities in the U.S. cease, Madlan's operations in Israel will continue unaffected.
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